The issue opened for bidding on 27 November 2024 and it will close on 29 November 2024. The price band of the IPO is fixed at Rs 71 to Rs 73 per share. The minimum order quantity is 1,600 equity shares. The equity shares will list on NSE's SME platform.
The IPO comprises fresh issue of 34,99,200 shares. The promoter and promoter group shareholding will dilute to 69.29% from 94.32% pre-IPO.
About 2,00,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 32,99,200 equity shares. The issue and the net issue will constitute 26.54% and 25.02% respectively of the post offer paid up equity share capital of the company.
The company intends to utilize the net proceeds for working capital requirements of company, public issue expenses and for general corporate purpose.
Ahead of the IPO, Apex Ecotech on Tuesday, 26 November 2024, raised Rs 7.21 crore from anchor investors. The board allotted 9.88 lakh shares at Rs 73 per share to 4 anchor investor.
Apex Ecotech provides water and wastewater treatment, recycling, and reuse solutions. The company also offers its customers after-sales support as well as operation and maintenance services. The company's services include setting up raw water treatment plants for industrial processes, effluent & sewage treatment plants to meet pollution norms, providing sludge dewatering equipment, recycling of pre-treated wastewater through membrane systems (ultra filtration, nanofiltration, reverse osmosis, disc type RO, etc.) and thermal / vapor compression- based evaporators & crystallizers for zero liquid discharge systems. The company had 119 full time employees.
The company recorded revenue from operations of Rs 21.70 crore and net profit of Rs 1.55 crore for the period as on 30 September 2024.
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